Hogs Slipping Back on Monday’s Midday

Lean hog futures are trading with contracts 17 to 32 cents lower on Monday. USDA’s national base hog price was reported at $71.99 on Monday morning, up $1.64 from the day prior. The CME Lean Hog Index was down another $1.64 on October 15 at $74.19.

Managed money was adding back 6,816 contracts to their net short position in lean hog futures and options as if Tuesday at 42,088 contracts.

USDA’s pork carcass cutout value was back down $1.35 in the Monday AM report, at $79.20. The picnic, ham, and belly primals were reported lower. Federally inspected hog slaughter for last week was estimated at 2.553 million head including Saturday. That is 66,000 head below last week and 35,907 head below than the same week last year.

Dec 26 Hogs  are at $66.750, down $0.175,

Feb 27 Hogs  are at $69.025, down $0.200

Apr 27 Hogs are at $74.350, down $0.325,